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Device VCs Get Advance Look Into Latin America

Advance Medical Inc. is using $20 million in new capital to expand its reach in Latin America. The company is partnering with US-based medical device companies to sell their products in the region.

Venture Capitalist Fred Aslan founded Adavium Medical on the belief that the medical device industry, small companies, and VCs in particular were overlooking Latin American countries as potential markets for international sales, favoring instead more high-profile markets like China and India.

The $20 million Series B from health care VC stalwarts Aberdare Ventures and Arboretum Ventures confirms Aslan’s founding thesis that Latin American markets warrant attention from US medical device start-ups interested in selling devices outside the US

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